Fixed Income Investor Information

A Strong Financial Foundation

Manageable maturity schedule and strong credit ratings provide financial flexibility for fixed income investors.

Debt Maturity Profile
($ in Millions) 2021 2022 2023 2024  2025  2026 and
Beyond
    Total
PPL Capital Funding $0 $900 $600 $350 $0 $3,780     $5,630
PPL Electric Utilities(1)(2) 400 474 340 0 0 3,075     4,289
LG&E and KU Energy 250 0 0 0 0 0     250
Louisville Gas & Electric(1) 292 0 0 0 300 1,432     2,024
Kentucky Utilities(1) 132 0 13 0 250 2,247     2,642
WPD plc(3) 500 0 666 67 0 668     1,901
WPD Operating Companies(3)(4)(5) 0 0 933 533 333 4,714     6,513
Total $1,574 $1,374 $2,552 $950 $883 $15,916     $23,249

Note: As of December 31, 2020.
  (1) Amounts reflect the timing of any put option on municipal bonds that may be put by the holders before the bonds' final maturities.
  (2) Includes WPD (East Midlands) plc, WPD (West Midlands) plc, WPD (South Wales) plc and WPD (South West) plc.
  (3) U.K. translated at $1.3323/£.

Current Credit Ratings

Current credit ratings as of December 31, 2020

Senior Unsecured Ratings

Entity Moody's S&P
PPL Capital Funding, Inc. Baa2 BBB+
Western Power Distribution plc Baa3 BBB+
Western Power Distribution (East Midlands) plc Baa1 A-
Western Power Distribution (West Midlands) plc Baa1 A-
Western Power Distribution (South Wales) plc Baa1 A-
Western Power Distribution (South West) plc Baa1 A-
LG&E and KU Energy LLC Baa1 BBB+

Senior Secured Ratings

Entity Moody's S&P
Louisville Gas and Electric Company A1 A
Kentucky Utilities Company A1 A
PPL Electric Utilities Corporation A1 A
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